S&T Bancorp (NASDAQ:STBA) Sets New 12-Month High – Time to Buy?

S&T Bancorp, Inc. (NASDAQ:STBA)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $44.66 and last traded at $44.5750, with a volume of 48162 shares changing hands. The stock had previously closed at $44.13.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on STBA shares. Zacks Research raised shares of S&T Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Piper Sandler reduced their price objective on S&T Bancorp from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of S&T Bancorp in a research note on Monday, December 29th. Janney Montgomery Scott raised S&T Bancorp from a “neutral” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Monday, January 26th. Finally, Keefe, Bruyette & Woods upped their target price on shares of S&T Bancorp from $41.00 to $42.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, S&T Bancorp has an average rating of “Moderate Buy” and an average price target of $42.25.

S&T Bancorp Trading Up 0.3%

The company has a 50 day simple moving average of $41.13 and a 200 day simple moving average of $38.99. The stock has a market capitalization of $1.69 billion, a PE ratio of 12.65 and a beta of 0.93. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

S&T Bancorp (NASDAQ:STBA) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. S&T Bancorp had a return on equity of 9.25% and a net margin of 23.61%.The firm had revenue of $105.29 million during the quarter, compared to the consensus estimate of $103.46 million. Analysts predict that S&T Bancorp, Inc. will post 3.05 earnings per share for the current fiscal year.

S&T Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Thursday, February 12th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Thursday, February 12th. S&T Bancorp’s dividend payout ratio (DPR) is currently 41.14%.

S&T Bancorp announced that its board has approved a share repurchase program on Thursday, January 22nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On S&T Bancorp

Institutional investors have recently modified their holdings of the company. Costello Asset Management INC acquired a new stake in shares of S&T Bancorp in the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its position in shares of S&T Bancorp by 5,223.5% in the second quarter. EverSource Wealth Advisors LLC now owns 905 shares of the financial services provider’s stock valued at $34,000 after buying an additional 888 shares in the last quarter. Torren Management LLC acquired a new position in shares of S&T Bancorp during the 4th quarter worth $37,000. Smithfield Trust Co purchased a new position in S&T Bancorp during the 4th quarter valued at about $40,000. Finally, Versant Capital Management Inc raised its position in S&T Bancorp by 41.6% during the third quarter. Versant Capital Management Inc now owns 1,308 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 65.22% of the company’s stock.

About S&T Bancorp

S&T Bancorp, Inc is a bank holding company headquartered in Indiana, Pennsylvania, serving as the parent of S&T Bank. Established as a banking organization in 1902 with the holding company formation following in the early 1980s, S&T Bancorp has built its reputation on delivering community-oriented financial services. The company operates under the NASDAQ ticker STBA, maintaining a focus on personalized banking solutions and local decision-making.

The company’s main business activities encompass a full suite of retail and commercial banking products.